How do I record depreciation in BUSY?
For maintain Deprciation in BUSY you have to go through
with Some Steps and these are-
Step 1: Go to Administation and then click on configuration
Step 2: After Select configuration click on Feature and Option and select Accounts option then tick on Company's Act Depreciation Option and also can search option from shortcut key F3.
Step 4: Create Account master from Administration and then click on Master.
Step 5: After click on Master select Accounts and click on Add option.
Step 6: After click on Add option enter Fixed assets name in Name Field and select Group as Fixed Assets default Created Account Group in BUSY and Then Rate of Depreciation window will be appear and enter the required depreciation rate as per the Act appeared in the window and also entered all details in required Fields in Account Master
Step 7: Enter the journal voucher from Transaction and Then Go to Display and Check the Depreciation Chart.
Step 8: After click on Depreciation Chart Report click on Income tax act or Company's Act W.D.V. method and select the account for Depreciation and then you can see the calculation of Depreciation amount as per rate specified in Fixed assets account and then Post accounting Entry through F4 report.